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Miguel Co. has acquired various types of assets recently. Below is a list of assets acquired during 2019 AND 2020. Miguel elected out of $179
Miguel Co. has acquired various types of assets recently. Below is a list of assets acquired during 2019 AND 2020. Miguel elected out of $179 expense and bonus depreciation in both years. In the table below indicate the appropriate convention for each asset by entering the corresponding letter from the following choices: A-half-year; B - mid-quarter, - mid-month. Asset Convention Cost Basis $250,000 Machinery Office Building Date Placed in Service May 5, 2019 August 1, 2019 800,000 Computers 35,000 January 10, 2020 Office Furniture (1) 60,000 February 28, 2020 Warehouse 500.000 March 15, 2020 Office Furniture (2) 280,000 October 15, 2020 Luxury Sedan (90% business use) 100,000 October 24, 2020
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